IKE Announces equity raising of A$20 million

Thursday 10th July 2025

A$18.0 Million Fully Underwritten Placement and up to A$2.0 Million SPP

Key Highlights

• Fully underwritten institutional placement to raise approximately A$18.0 million (approximately NZ$19.6 million) and non-underwritten share purchase plan to raise up to A$2.0 million (approximately NZ$2.2 million).

• Proceeds from the equity raising will be used to fund new product development to maintain and extend IKE’s market leadership, accelerate sales and marketing efforts, and provide balance sheet flexibility to execute on potential strategic bolt-on acquisition opportunities and general working capital.

• IKE will develop two important new next-generation subscription product modules in collaboration with its extended customer-council, which are intended to extend IKE’s value in how utilities and communications companies capture, digitize, and manage their distribution networks.

ikeGPS Group Limited (IKE / ikeGPS) (NZX/ASX: IKE) is pleased to announce an equity raising of approximately A$20.0 million (NZ$21.8 million). The equity raising comprises an approximately A$18.0 million (approximately NZ$19.6 million) fully underwritten placement of new ordinary shares to sophisticated, professional and institutional investors (Placement), followed by a non-underwritten share purchase plan to eligible existing shareholders of up to A$2.0 million1 (approximately NZ$2.2 million) (SPP, and together with the Placement, the Equity Raising).

IKE Chief Executive Officer & Managing Director, Glenn Milnes said:

“ikeGPS is now fully funded to accelerate growth plans and new product development. Following the significant commercial success of the customer-council led process to design & sell-through the IKE PoleForeman product, a now extended customer-council group has engaged with IKE to define two extension product modules that we believe bring a new & compelling offering that addresses important needs across the entire electric utility industry in North America.

Holistically, these next generation product modules are intended to extend IKE’s value in how utilities and communications companies capture, digitize, and manage their distribution networks.

A strategic imperative is to maintain and extend IKE’s market leadership in this specific space. The investment in this platform is expected to secure IKE's position as the definitive solution provider, ensuring long-term contracts with customers, sustainable growth and market leadership for the next decade and beyond.

Targeted new product benefits include: >5x productivity gains for customers for our defined distribution network applications versus capability in the market today; >2x subscription seat revenue growth per user, via value-based pricing; while shifting customers to a next-generation stack and user-experience best practices.”

Details of the Placement

A total of approximately 22.2 million Placement shares will be issued under IKE’s placement capacity under NZX Listing Rule 4.5 to raise approximately A$18.0 million (approximately NZ$19.6 million). Placement shares will rank equally with existing fully paid ordinary shares and will be quoted on the NZX and ASX from the date of the Placement allotment.

New shares under the Placement will be issued at a price per share of A$0.81 (NZ$0.88) (Offer Price).2 The Offer Price represents a:

• 4.7% discount to the last ASX close price of A$0.85 per IKE share on Wednesday, 9 July 2025; and a

• 6.1% discount to the 5-day Volume Weighted Average Price (VWAP) of IKE shares traded through the ASX of A$0.862 per share up to and including Wednesday, 9 July 2025.

The Placement is fully underwritten by Shaw and Partners Limited and Unified Capital Partners Pty Ltd who are acting as Joint Underwriters, Joint Lead Managers and Joint Bookrunners to the Placement.3 Chapman Tripp are acting as legal counsel to IKE in connection with the Equity Raising.

Details of Share Purchase Plan

Following the completion of the Placement, IKE will offer eligible existing shareholders the opportunity to participate in a non-underwritten SPP to raise up to A$2.0 million (approximately NZ$2.2 million). Under the SPP, eligible IKE shareholders, being shareholders who have a registered address in Australia and New Zealand on IKE’s register at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025, will have the opportunity to apply for up to a maximum of A$30,000 or NZ$32,500, respectively, of new shares free of any brokerage, commission, and transaction costs. New shares to be issued under the SPP will be issued at the Offer Price.

New shares to be issued under the SPP will rank equally with existing IKE shares on issue and will be quoted on the NZX and ASX from the date of SPP allotment. If the SPP is oversubscribed, IKE may scale back applications at its discretion, by reference only to the number of fully paid ordinary shares held by eligible shareholders accepting the SPP at 7.00pm AEST / 9.00pm NZST on Wednesday, 9 July 2025.

The Directors of the Company who are Eligible Shareholders intend to apply to fully participate in the SPP.

Further details of the SPP will be set out in the SPP offer booklet, which will be released to the NZX and ASX on Wednesday, 16 July 2025. The closing date for applications by eligible shareholders is 7 August 2025.

1. Offer Announcement

2. Investor Presentation

3. Cleansing Notice

4. NZX Corporate Action Notice

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